FinMin forms panel to rationalise FII, FDI definition
Quotes

FinMin forms panel to rationalise FII, FDI definition

Last Updated: Tuesday, April 2, 2013, 23:23
 
 Comment 0
 
Tags: FIIFDIFinMinArvind Mayaram
FinMin forms panel to rationalise FII, FDI definition
New Delhi: The Finance Ministry has notified an eight-member panel under Economic Affairs Secretary Arvind Mayaram for giving clear definitions to FDI and FII, a move aimed at removing ambiguity in the types of foreign investments.

"In accordance with the budget announcement, a committee is hereby constituted, to examine and work out the details of the application of the principle followed internationally for defining FDI and FII," the Ministry said on Tuesday.

The other members include DIPP Secretary, Chief Economic Advisor in DEA, RBI Deputy Governor H R Khan and SEBI Member S Raman.

Finance Minister P Chidambaram in his budget speech had proposed to set up the panel to remove the ambiguity that prevails on what is Foreign Direct Investment (FDI) and what is Foreign Institutional Investment (FII).

Currently, if an investor has a stake of 10 percent or less in a company, it is treated as FII. If the stake exceeds 10 percent, the investment is treated as FDI.

PTI



First Published: Tuesday, April 2, 2013, 23:23


Comments


comments powered by Disqus
PM Narendra Modi in France
PM Narendra Modi in France
PM Modi`s Make in India push in Germany
PM Modi`s Make in India push in Germany
Renault Lodgy MPV
Renault Lodgy MPV
Apple Watch: Worldwide preview
Apple Watch: Worldwide preview
2015 New York Auto Show
2015 New York Auto Show

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved